Fundsmith and Baillie Gifford dropped from ACE 40 list

The Fundsmith fund was axed for being one of too many global equity funds with a growth style bias on the list. Morningstar, which helps compile the ACE 40, also advised in favour of a broader approach than just the Fundsmith strategy through a sustainable lens. Baillie Gifford Global Stewardship lost out due to overlapping too much with the other two Baillie Gifford global equity funds on the list, which all have a distinct growth style bias, and similar return profiles. Asset managers struggle to evidence ESG considerations when taking positions Schroder Global Sustainable Value ...